Title
Resolution - Review and Approval of Defined Benefit Plan Funding Policy Amendments - K Jones/N Fulmer
Other Info
Submitted By: Kat Jones and Nathan Fulmer
Department: Chief Financial Officer
Financial Impact and Cost/Benefit Considerations: None.
Discussion
Pursuant to the Board’s Policy on Policies, the Board routinely reviews all Board policies as part of its policy management. Under the Board’s review schedule, the Board may consider review of the Defined Benefit Plan Funding Policy. The purpose of the Defined Benefit Plan Funding Policy is to establish the manner and objectives for which the assets of PEC Employees’ Defined Benefit Plan shall be managed. The Board previously approved a Defined Benefit Plan Funding Policy on April 19, 2010 and approved subsequent amendments.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS that pursuant to its regular review of Board policies, the Board has reviewed and adopts the Defined Benefit Plan Funding Policy, with such changes, if any, as were approved by the Board; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designee, is authorized to take all such actions as may be necessary to implement this resolution.